Monday, November 30, 2015

Government will introduce a bill in the ongoing winter session to amend the Bonus Act, 1965, Prime Minister Narendra Modi told Parliament on Friday.

Replying to the two-day special debate to mark the Constitution Day and Dr BR Ambedkar’s 125th birth anniversary, Modi said: “We are going to bring an important bill in this House to amend Bonus Act. The Cabinet has already approved it. This is a very important bill for our workers. We are taking decisions and working for welfare of the labour class.”

Bonus calculations

The amendment bill seeks to enhance extent of coverage for payment of bonus from the existing wage limit of Rs 10,000 to Rs 21,000 per month as well as the calculation limit for payment of bonus from Rs 3,500 to Rs 7,000 per month.

The Union Cabinet had approved the amendment in the Payment of Bonus Act 1965 for the Industrial workers last month, making them eligible for the reward.